Thursday, October 22, 2009

Some Oil Firms Now Accept Iraq Terms - Do you?

Ok, so today's MBA student blog will be about something that is of very close interest to me (no, I'm not saying everything else I've written about isn't of interest, but this is of high interest, lol).

The oil and gas industry is something that is a new and interesting world to me, as I recently completed a summer internship with Chevron. I have continued to grow my knowledge in this realm by reading as much of the latest info and speaking to as many people in the industry as possible.

I was able to get the job at Chevron in part to Kelley's great relationship with Chevron and actually being a student at one of the nation's best entrepreneurship MBA programs did not hurt my chances either.

Please take a look at this article that I have recently come across and respond with some comments...

Some Oil Firms Now Accept Iraq Terms - WSJ.com

It is pretty clear that Iraq's current political ideology towards FDI within the oil/gas industry is one of radical protectionism... This can be easily gleaned from this article, since it states, over 90% of their government's revenue is derived from oil/gas production.
It seems now however that foreign investors are beginning to yield to Iraq's highly protective terms whereas before they did not, it looks like many of them are trying to acheive first-mover advantage even at risk of forgone profits...

I'm going to do something crazy here, but, I'm very curious, please share how you feel about oil/gas companies with a home base in US working with Iraq and what you think of the current strategies to yield to Iraq's request?

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